Nexa Resources (NYSE:NEXA) Price Target Raised to $14.50

by · The Cerbat Gem

Nexa Resources (NYSE:NEXA – Get Free Report) had its target price lifted by Scotiabank from $14.00 to $14.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 0.66% from the company’s previous close.

NEXA has been the topic of a number of other research reports. Wall Street Zen cut shares of Nexa Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Citigroup upped their price target on shares of Nexa Resources from $12.50 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price target on shares of Nexa Resources from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Zacks Research raised shares of Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexa Resources in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.43.

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Nexa Resources Stock Performance

NEXA stock traded up $0.68 during midday trading on Monday, reaching $14.41. 376,010 shares of the company’s stock traded hands, compared to its average volume of 1,025,821. The company has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $11.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.54 and a current ratio of 0.85. Nexa Resources has a 52 week low of $4.44 and a 52 week high of $16.89. The firm has a market capitalization of $1.91 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.33 and a beta of 0.89.

Nexa Resources (NYSE:NEXA – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. The business had revenue of $888.32 million for the quarter, compared to analysts’ expectations of $885.90 million. As a group, equities analysts anticipate that Nexa Resources will post 2.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEXA. GSA Capital Partners LLP grew its position in Nexa Resources by 7.5% in the third quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $178,000 after acquiring an additional 2,504 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nexa Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 732,176 shares of the company’s stock worth $3,654,000 after acquiring an additional 26,829 shares in the last quarter. Citadel Advisors LLC grew its position in Nexa Resources by 142.4% in the third quarter. Citadel Advisors LLC now owns 60,287 shares of the company’s stock worth $301,000 after acquiring an additional 35,411 shares in the last quarter. Millennium Management LLC grew its position in Nexa Resources by 124.1% in the third quarter. Millennium Management LLC now owns 73,190 shares of the company’s stock worth $365,000 after acquiring an additional 40,535 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Nexa Resources in the third quarter worth $134,000.

About Nexa Resources

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Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.

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